Exhibit 5(b) and 8




                                                              Exhibit 5(b) and 8


                       LeBoeuf, Lamb, Greene & MacRae LLP
                              125 West 55th Street
                            New York, New York 10019

                                  May 30, 2007


IDACORP, Inc.
1221 West Idaho Street
Boise, Idaho  83702-5627

Ladies and Gentlemen:

         We have acted as counsel to IDACORP, Inc., an Idaho corporation (the
"Company"), in connection with post-effective amendment no. 2 (the
"Post-Effective Amendment") to the registration statement on Form S-3 (the
"Registration Statement"), which the Company proposes to file on or about the
date hereof with the Securities and Exchange Commission under the Securities Act
of 1933, as amended (the "Act"), relating to the issuance and sale by the
Company of shares of its common stock, without par value (the "Stock"), and the
preferred share purchase rights attached thereto (the "Rights") (the Stock and
the Rights collectively referred to as the "Shares") pursuant to the IDACORP,
Inc. Dividend Reinvestment and Stock Purchase Plan, as amended (the "Plan").

         For purposes of this opinion, we have examined originals or copies,
certified or otherwise identified to our satisfaction, of (i) the Post-Effective
Amendment; (ii) the Registration Statement; (iii) the Rights Agreement, dated as
of September 10, 1998, as amended, between the Company and Wells Fargo Bank,
N.A., as successor to The Bank of New York, as Rights Agent (the "Rights
Agreement"); (iv) the Articles of Incorporation, as amended, and Amended Bylaws
of the Company, as in effect on the date hereof; (v) resolutions adopted by the
Board of Directors of the Company relating to the Post-Effective Amendment, the
Registration Statement, the Rights Agreement and the issuance and delivery of
the Shares and (vi) such other instruments, documents, certificates and records
as we have deemed necessary or appropriate for the purposes hereof. In such
examination we have assumed the genuineness of all signatures, the authenticity
of all documents submitted to us as originals, the conformity to the original
documents of all documents submitted to us as copies and the authenticity of the
originals of such latter documents. As to any facts material to our opinion, we
have, when relevant facts were not independently established, relied upon the
aforesaid Post-Effective Amendment, Registration Statement, Rights Agreement,
Articles of Incorporation, Amended Bylaws, resolutions, instruments, records,
certificates and documents. We have also assumed the regularity of all corporate
procedures.




IDACORP, Inc.
May 30, 2007
Page 2


         Based upon the foregoing, and subject to the qualifications herein
expressed, we are of the opinion that:

         (1)      The Stock will be validly issued, fully paid and
                  non-assessable when the Stock shall have been issued, sold and
                  delivered pursuant to the terms and provisions of the Plan and
                  for the consideration contemplated thereby;

         (2)      When issued and delivered in accordance with the Rights
                  Agreement, the Rights will be validly issued;

         (3)      The Stock to be purchased in the open market is validly
                  issued, fully paid and non-assessable, and the Rights attached
                  thereto are validly issued; and

         (4)      The statements made in the Post-Effective Amendment to the
                  Registration Statement under the heading "Federal Income Tax
                  Consequences" constitute an accurate description of certain
                  Federal income tax consequences to participants in the Plan.

         The matters relating to the Shares are governed by the law of the State
of Idaho. In regard to the Rights, we note that Section 30-1610 of the Idaho
Control Share Acquisition Law and Section 30-1706 of the Idaho Business
Combination Law each provides that nothing contained in either the Idaho Control
Share Acquisition Law (Sections 30-1601 through 30-1614) or the Idaho Business
Combination Law (Sections 30-1701 through 30-1710), respectively, is intended to
limit the corporate powers or authority of an "issuing public corporation" (as
defined in such statutes), such as the Company, to take actions "which the
directors may appropriately determine to be in furtherance of the protection of
the interests of the corporation and its shareholders, including without
limitation the authority to . . . enter into . . . arrangements," such as the
Rights Agreement, that "deny rights. . . to the holder or holders of at least a
specified number of shares or percentage of share ownership or voting power in
certain circumstances."

         Because we are not aware of any court decision applying the law of the
State of Idaho that addresses the effect of these statutory provisions or the
validity of plans similar to the Rights Agreement, it is difficult to express a
professional judgment as to how a court applying the law of the State of Idaho
would rule with respect to the issues relating to the Rights. Nevertheless, we
are able to advise you of our opinion as expressed herein, which reflects our
professional conclusion concerning how a court applying the law of the State of
Idaho (including, but not limited to, Section 30-1610 of the Idaho Control Share
Acquisition Law and Section 30-1706 of the Idaho Business Combination Law)
likely would rule.

         Although we are not admitted to practice in the State of Idaho, we have
conferred with Thomas R. Saldin, Esq., Senior Vice President and General Counsel
of the Company, for purposes of rendering this opinion. General Counsel and we
have concluded that a court applying the law of the State of Idaho, when
presented with novel questions concerning takeover matters, such as the effect
of the statutory provisions cited above, the adoption by the Company




IDACORP, Inc.
May 30, 2007
Page 3


of the Rights Agreement and the status of the Rights, most likely would apply
the corporate law of the State of Delaware, the most fully developed body of
corporate law in the United States. Accordingly, in rendering our opinion, we
have assumed that Delaware corporate law, as expressed in court decisions
applying that law, with which we are familiar, provides an indication of what
standards a court would apply if it were required to apply the law of the State
of Idaho considering the matters relating to the Rights. If, however, such a
court did not apply the corporate law of Delaware to the Rights Agreement and
the Rights, we cannot express a professional judgment as to the conclusions such
a court would reach or as to the effect of such conclusions, whether positive or
negative, on the Rights.

          With respect to this opinion, we do not hold ourselves out as experts
on the laws of any state other than the State of New York. Our opinions
expressed above are limited to the laws of the State of New York, the General
Corporation Law of the State of Delaware and the applicable provisions of the
Constitution of the State of Delaware and the reported judicial decisions
interpreting the Delaware laws, and the federal laws of the United States.
Insofar as this opinion involves matters of the law of the State of Idaho, we
have relied upon an opinion of even date herewith addressed to you by Thomas R.
Saldin, Senior Vice President and General Counsel of the Company.

          We hereby consent to the filing of this opinion as an exhibit to the
Post-Effective Amendment and the reference to our firm contained therein under
the heading "Legal Matters." In giving such consent, we do not thereby concede
that we are within the category of persons whose consent is required under
Section 7 of the Securities Act or the rules and regulations of the Commission
thereunder.

                                         Very truly yours,


                                         /s/ LeBoeuf, Lamb, Greene & MacRae LLP